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Avon Products profit beats consensus by 85.6% in Q3


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Avon Products profit beats consensus by 85.6% in Q3

Avon Products Inc. said its normalized net income for the third quarter was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

The per-share result swung to a profit from the prior-year loss of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.4 million, compared with a loss of $6.9 million in the prior-year period.

The normalized profit margin increased to 2.6% from negative 0.5% in the year-earlier period.

Total revenue decreased year over year to $1.41 billion from $1.44 billion, and total operating expenses declined 5.9% on an annual basis to $1.31 billion from $1.39 billion.

Reported net income totaled $30.6 million, or 7 cents per share, compared to a loss of $657.5 million, or a loss of $1.51 per share, in the prior-year period.